DeutschA paradigm shift is emerging in the United States. Paul Atkins, Chairman of the US Securities and Exchange Commission (SEC), declared in Paris on Thursday (September 11) that the time for harsh enforcement measures against cryptocurrencies is over. At an OECD conference, he spoke of a “new chapter” – marking a clear departure from the line of his predecessors.
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“Most cryptocurrencies are not securities,” Atkins affirmed in his speech. It is a sentence that is likely to be heard equally on Wall Street and in the crypto scene. Until now, the classification of digital tokens as securities has been a point of contention that has caused lawsuits, uncertainty and investor frustration. Now, everything indicates that the SEC is loosening the reins – and looking to Europe in the process.
SEC Chief Atkins Heralds a “New Crypto Chapter” in the USA
Atkins had particular praise for the EU regulation MiCA (Markets in Crypto-Assets). In his view, the comprehensive rules, which were already drafted in Brussels in 2020 and adopted by Parliament in 2022, could also serve as a model for the USA. “We can learn from the EU’s early steps,” Atkins explained. Close cooperation between Washington, Brussels and other international partners is conceivable.
While the EU enjoys the reputation of being ahead of the game when it comes to crypto law, the USA has lagged behind. Atkins now seems keen to catch up – but without repeating the mistakes of the past. “Regulators should only intervene when necessary. Otherwise, we stifle the small players and only leave the big ones,” he warned. His words carry a clear message: investors should be protected, but start-ups should not be held back. This is likely to be welcomed in an industry that thrives on dynamism and innovation.
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With the «Project Crypto» project, the SEC also wants to bundle all relevant measures under one roof. The aim is to create clarity instead of building new hurdles. A signal that seems almost revolutionary in view of lawsuits and complicated procedures in recent years.
USA Looks to Europe’s MiCA
Another area that Atkins particularly emphasized are so-called “super apps”. Platforms that bundle a wide range of services – from payment functions to trading – and make them available in a single ecosystem. Long widespread in Asia, for example with WeChat or Grab, such all-rounders could also open up new markets in the USA. Atkins emphasized that the SEC wants to keep the way open for such models.
It won’t be possible to do without regulation altogether – Atkins also made that clear. But instead of using a sledgehammer, they want to act with discernment in the future. It is a new beginning that should create trust, both among investors and companies. It is no coincidence that Atkins chose to speak in Paris on an international stage. The crypto market is global, and those who come too late are often punished by the competition. It is therefore important for the USA to step out of its shadowy existence when it comes to regulation – without copying the mistakes of Europe or China.
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The tone that Atkins strikes is balm for many in the scene: fewer threats, more dialogue. Whether actions will now follow the words will be crucial. But one thing is already clear: the crypto world is watching Washington with anticipation – and senses fresh tailwind. (mck)
